Which of the following statements is true?
A. OLS estimates in censored regression models are consistent estimators of the population coefficients.
B. In a truncated regression model, the samples are not included randomly from an underlying population but are based on a given rule.
C. In a censored regression model, units in the sample are taken from a particular subset of the population.
D. Maximum likelihood estimators are consistent in truncated regression models even if there is nonnormality or heteroskedasticity in the error terms.
Answer: B
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We observe that the price of food rises and the quantity purchased also rises. This means the
a. supply curve shifted to the left. b. demand curve shifted to the right. c. demand curve shifted to the left. d. supply curve shifted to the right.
A tax on imported goods is called a(n)
a. excise tax. b. tariff. c. import quota. d. None of the above is correct.